E407: The Bitcoin Show – TWiST News Roundtable

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We start at the beginning. What’s a bitcoin? Then quickly move into where it could go: micro payments on your car? (No coin in your virtual wallet, car doesn’t start?) What about electronic voting? Whether virtual currencies could replace everything from credit card payments to the way we vote. A look at three companies in the space for Bing Launch of the Week: Andreessen Horowitz-backed Coinbase, talent-rich but mystery product payment system Circle, and Cointerra, a company that sells mining rigs. And what are the chances that Bitcoin crashes below $100 in the next year? Our panel weighs in: Howard Lindzon of StockTwits, Tom Longson of GogoCoin, and cryptocurrency blogger Charles Amadeus.

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Audible, the leading provider of audiobooks with over 150,000 titles. Get your free audiobook at audible.com/twist. Jason’s picks of the week are Emotional Equations by Chip Conley and The Bully Pulpit by Doris Kearns Goodwin.

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Highlights

3:30 – Intro Tom Longson
5:12 – JC intro Charles Amadeus. What’s your story?
8:35 – JC, Tom could this be a viable market?
10:12 – JC, Charles what’s causing the massive fluctuations?
12:30 – 13:45 – Thank you http://Snapterms.com! Use the promo code TWIST when you checkout for 10% off.
13:50 – JC Tom what’s important about this in big picture?
14:48 – JC charles, what’s the big picture? 5 years from now?
15:18 – CA, I can imagine getting into my leased car and when I turn it on, it sends a little payment to the dealer. You’re making car payments to drive your car. Make the internet of things more concrete.
15:55 – JC You just terrified ½ of America
18:14 – JC how do I “own” a bitcoin?
19:35 – TL: How does the credit system work? People don’t know or care. Everything Charlie said is true, but it gets complicated… blockchain allows people to send money
21:35 – JC what are the odds that NSA has their hands in this technology?
25:21 – Winner of iPad mini is Fares Nimri.
26:50 – JF: FBI has biggest bitcoin wallet in the world
30:00 – TL, Satoshi can’t spend his bitcoins w/out giving away identity. If he spent them, reporters would converge on wherever he spent them
SPECULATION: who do you think it is?
31:20 – JC what are the chances this is more than one person?
35:21 – JC, What’s the US government’s position here. What have they said so far?
36:35 – Bing launch of the week
37:00 – Coinbase
37:30 – TL, interesting company. A16z. Coinbase is trying to rise to the level of service that bank offers. Growing pains. Brian of Coinbase has refunded me on a problem transaction. I bleieve they’re trying to do the right thing in general.
28:15 – CA, they have potential. They have money to hire developers. They could get into real changes. Smart contracts, Smart property, etc. They have a lot of room to grow
38:48 – Circle.
39:08 – CA, who knows. they don’t have a product. nothing to show yet.
19:23 – TL, a talent play.
39:45 – Cointerra
40:00 – CA, I spent $15k on a miner. For Bitcoin specifically. KNC Miner (Sweden). I’ll be able to make a coin a day. A lot of speculation. If it makes money, it will be fantastic.
42:27 – JC Dogecoin. [groan]
44:12 – JC which is the startup of the week?
44:43 – HL Coinbase. Everyones trying to make it legit. there’s something there on the table.
44:55 – JC how legit is AH investment of $25M.
45:00 – HL they problaby don’t need that much. The art is taken out of the business. It’s waste. AH has to put $B to work now. It was a YC co that took a while to get people onboard. They have competition – Bitpay.
46:10 – TL, bitpay is a merch processor only. Coinbase is the way to buy and sell. Going to say Coinbase as well because they have most momentum
48:36 – JC What are the chances that daily transactions go through a new currency in 10 years?
48:50 – TL, very high. Bitcoin or equivalent will take over sooon. Paypal, etc. These companies will be the ones hurt.
49:28 – JC Charles?
49:30 – CA my dystopian description of car payments could arise. Kickstarter, insurance contract, etc. Programmable into the blockchain, you just need a programmer to do it. you may not realize you’re using it
50:40 – JC chances Bitcoin collapses?
50:57 – HL, 40% under $100 in the next year
51:05 – TL, 5%. Bitcoin is going to evolve to another name another protocol.
51:24 – JC chances a new one comes along to
51:30 – TL, very high. You want to use the best tech to move your money
52:53 – JC sustainable? Is this the end of it?
53:05 – HL, we’re at the beginning of a massive boom. I don’t like to predict market prices. A lot of volatility in price.
53:45 – JC will the credit card companies embrace this?
54:13 – TL, close w/ companies that are trying to get banking relationships. Banks being conservative.
54:45 – CA banking w/out banks someday.
55:05 – HL, growing faster than ever: Small financing. A lot of fun.
55:40 – JC the cashtag is from StockTwits.
56:10 – TL angel.com/gogocoin. Everyone take a look.
56:38 – CA Twitter @charlesamadeus

 

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